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What is the increase in shareholders equity arising

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Reference no: EM132881047

Moriones Company issued P5,000,000 face value 12% convertible bonds at 110 on January 1, 2016, maturing on January 1, 2020 and paying interest semiannually on January 1 and July 1. It is estimated that the bonds would sell only at 103 without the conversion feature. Each P1,000 bond is convertible into 10 ordinary shares with P100 par value.

Problem 1: What is the increase in shareholders' equity arising from the issuance of the convertible bonds on January 1, 2016?

a. 350,000
b. 500,000
c. 150,000
d. 0

Reference no: EM132881047

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